Barclays Maintains an 'Overweight' on MarkWest Energy (MWE); Utica Joint Venture Strengthens Outlook
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Price: $41.53 --0%
Rating Summary:
5 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
5 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Barclays maintains an 'Overweight' on MarkWest Energy (NYSE: MWE) price target raised from $61 to $66.
Analyst, Richard Gross, said, "MWE guided 2012 DCF of $440-$550 mm, which represents 41% YoY growth based on the mid-point. Guidance was reduced by 8% compared to its December announcement, due to expected weak NGL prices in 1H 2012, and to a lesser extent, producer drilling changes in the Huron. Despite this, we maintain our view that MWE is well positioned to grow distribution by 14% in 2012."
Gross also feels that the Utica joint venture will provide the next leg of growth (and visibility) and simultaneously cutting CapEx in the beginning years. The Barclays analyst feels that this deal will be accretive by 6-8% over the long term.
For an analyst ratings summary and ratings history on MarkWest Energy click here. For more ratings news on MarkWest Energy click here.
Shares of MarkWest Energy closed at $60.33 yesterday.
Analyst, Richard Gross, said, "MWE guided 2012 DCF of $440-$550 mm, which represents 41% YoY growth based on the mid-point. Guidance was reduced by 8% compared to its December announcement, due to expected weak NGL prices in 1H 2012, and to a lesser extent, producer drilling changes in the Huron. Despite this, we maintain our view that MWE is well positioned to grow distribution by 14% in 2012."
Gross also feels that the Utica joint venture will provide the next leg of growth (and visibility) and simultaneously cutting CapEx in the beginning years. The Barclays analyst feels that this deal will be accretive by 6-8% over the long term.
For an analyst ratings summary and ratings history on MarkWest Energy click here. For more ratings news on MarkWest Energy click here.
Shares of MarkWest Energy closed at $60.33 yesterday.
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